Well, you can export to dbf or csv which readily opens with Excel, which if you want this in native Excel format, then you can save it within Excel. Is that what you want?...then, a scripting solution is to use Python to read the attribute table and write directly in xls format.

ah, forgot about this, from the Model and Tool gallery, you can export directly to Excel:

I use XToolsPro freeware license. There is a command 'Export Data to MS Excel' that I use all the time. Nice user interface too. You can place the 'Export Data to MS Excel' button on any of your toolbars by using the 'Customize Mode...' window.

can i ask where you find this "freeware"? i went to their website but i'm looking at $250 for a single license.

Unless they have changed things in the most recent version, the 'free'version is a subset of the full paid version (i.e. not all tools available).From their FAQ:Q: Do you have a free downloadable version or do we have to pay per download for the XTools Pro version?

A: XTools Pro is a shareware extension to ArcGIS Desktop. You can download it for FREE from Data East or XTools Pro sites.This version is full-functional and available for the trial period of 14 days. Then you can either register for a free license key to use the free tools or purchase a full license to have access to the paid tools. Downloading and evaluating XTools Pro does not oblige you to pay.